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Well, the restaurants and malls are packed, lots of expensive cars on the road, houses in my area selling within days of listing. I know nothing about economics but people in my area, which is not a wealthy area, do not appear to be economically depressed.
Well, the restaurants and malls are packed, lots of expensive cars on the road, houses in my area selling within days of listing. I know nothing about economics but people in my area, which is not a wealthy area, do not appear to be economically depressed.
Restaurants were still busy in 2008 and 2009 where I lived. I guess the Great Financial Crisis was a booming economy.
Blackrock buying up rentals and bidding up houses are pinching the bottom half from buying homes now that mortgage rates are creeping back up. The 30 year mortgage interest rate has doubled under Biden.
Well, the restaurants and malls are packed, lots of expensive cars on the road, houses in my area selling within days of listing. I know nothing about economics but people in my area, which is not a wealthy area, do not appear to be economically depressed.
The impact of rate hikes have not been felt yet. I hope the economy doesn't tank but we're about to enter a period with the most constrictive monetary policy in at least 15 years, possibly 40 years.
I sure don't want to go back to the time of Trump when chain stores were shutting down in my small rural town, such as JC Penney, Payless and Pier 1, for starters. And then came 2020 with all the covid restrictions and no concerts. And for a time no bars and restaurants open.
I don't live from paycheck to paycheck, so the inflation doesn't have a major impact on me. Shortages are worse. My local Wal-Mart is having trouble keeping dry cat food by Purina in stock.
You'll have to take Covid up with the CCP and Fauci.
The yield curve inverted. This is a sign that investors fear recession and is a highly accurate predictor of recession within a year.
The amount of US families living pay check to pay check is on the rise and is at 64%. Booming?
69% of US adults say the economy is in poor shape. Booming.
The employment rate is still below the prepandemic level.
The same people who say that inflation will go away are the same people that said we wouldn't have inflation, that there was no inflation, that the inflation was transitory, that the inflation was small, that the inflation was Putin's fault.
The economy is terrible because a Democrat is in the White House. Economic statistics are irrelevant.
Restaurants were still busy in 2008 and 2009 where I lived. I guess the Great Financial Crisis was a booming economy.
Blackrock buying up rentals and bidding up houses are pinching the bottom half from buying homes now that mortgage rates are creeping back up. The 30 year mortgage interest rate has doubled under Biden.
The yield curve inverted. This is a sign that investors fear recession and is a highly accurate predictor of recession within a year.
The amount of US families living pay check to pay check is on the rise and is at 64%. Booming?
69% of US adults say the economy is in poor shape. Booming.
The employment rate is still below the prepandemic level.
The same people who say that inflation will go away are the same people that said we wouldn't have inflation, that there was no inflation, that the inflation was transitory, that the inflation was small, that the inflation was Putin's fault.
The yield curve is not a reliable indicator especially in this environment. It is inverted because of near term inflationary pressures that are not likely to continue as the effects of the pandemic wash out of the economy. My fear is that the Fed is going to go too far and bring on a recession, but even that is a remote possibility.
Public opinion is almost entirely driven by high gas and food prices and opinion is not being reflected in behavior. People are spending like drunken sailors which is not indicative of a fear of recession and job losses.
The job recovery from pre-pandemic levels is very close to 100% and total jobs will surpass that level in a matter of weeks. The main problem has been a lack of qualified/willing people to employ, not available positions.
You are right, but it isn't Ponderosa's fault for being wrong. It was (falsely) reported that inflation had cooled off.
Yep, the same people who said:
There would be no inflation. Wrong.
There is no inflation. Wrong.
The inflation is transitory. Wrong.
The inflation is small. Wrong.
The inflation is cooling off. Wrong.
The grocery store inflation is due to greedy companies. Wrong.
The inflation is due to Putin. Wrong, but he has made it worse.
The ruble will collapse. Wrong, it has already fully recovered.
Russia will be forced to sell their gold. Wrong, they are buying gold.
Why do people keep listening to these clowns?
P.S. if you measure inflation like we did in the 1980s, this is the worst inflation in 75 years. Or conversely if you measure inflation back then like we do today it is also the worst inflation in 75 years. No matter how you measure it, if you use the same scale it is worse today than the dreaded stagflation 40+ years ago.
Today's inflation is by all objective measures WORSE than the late 70s and early 80s. The mainstream propaganda media won't tell you that.
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